As we bid farewell to 2024, the Triangle’s real estate market is showing a sharp seasonal slowdown in activity, reflective of the holiday period. This week’s data reveals significant changes across key market indicators, marking the quiet close of the year in the housing sector.
Key Highlights of the Week
- New Listings: The number of new properties entering the market dropped dramatically to 333, a -56.7% decline compared to last week’s 769.
- Back on Market: Homes returning to the market decreased to 72, down -31.4% from last week’s 105.
- Pending Sales: Pending transactions also saw a notable decline, falling to 521 from 759—a -31.4% change.
- Price Changes: The number of homes adjusting their prices was 452, representing a -24.4% decrease from last week’s 598.
- Homes Sold: A significant slowdown was observed in closed transactions, with just 432 homes sold this week, down a staggering -62.3% from last week’s 1,147.
- Expired Listings: The number of expired listings saw a modest reduction, falling to 120 from 134—an -10.4% decrease.
- Active Listings: Active listings dipped slightly by -4.3%, moving from 7,764 to 7,431.
Observations and Insights
The Triangle’s real estate market is experiencing its typical end-of-year cooldown, as buyers and sellers step back during the holiday season. Notably, new listings and sold properties saw the steepest declines, both of which are unsurprising given the reduced activity during this time. Active listings, however, remain steady, reflecting a market that may be preparing for a strong start to 2025 as buyers return in the coming weeks.
Looking Ahead to 2025
With the new year around the corner, the Triangle real estate market is poised for renewed activity as buyers and sellers re-engage after the holiday season. Whether you’re looking to buy, sell, or simply stay updated on market trends, Brazoban Realty is here to guide you through every step.
Happy Holidays and a Prosperous New Year!
As always, we thank you for trusting Brazoban Realty for your real estate needs. Stay tuned for next week’s market updates as we dive into 2025 together.
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